June 22, 2010 | Palo Alto, California:  SunTrust Banks, Inc., one of the largest banking organizations in the US, has chosen MetricStream, the leader in Governance, Risk, Compliance (GRC) solutions, to integrate audit, compliance and risk management functions across the enterprise on a common GRC platform.

SunTrust will consolidate various risk, compliance and audit processes on an integrated, enterprise-wide architecture with MetricStream GRC Platform serving as the underlying technology framework. MetricStream solution will deliver comprehensive functionality to support the execution of SunTrust’s key GRC disciplines with capabilities for:

  • Audit Management: Risk-control assessments, annual audit planning, project resource estimation and management, audit project management, time capture and reporting, workpaper management, control testing, issues management and audit reporting
  • SOX Compliance: Process assessments, internal control assessments, control management, control testing, surveys and certifications, issue management, compliance reporting and document management
  • Regulatory Compliance: Risk assessments, control assessments, issue management, compliance reporting, control testing and document management
  • Operational Risk Management (ORM): Risk-control assessments, Key Risk Indicators (KRIs), loss data capture, scenario analysis, control testing, risk reporting, issue management, document management

David Bilko, Senior Vice President and Corporate Operational Risk Officer, at SunTrust, says: "Using MetricStream as the technology backbone to integrate and streamline our processes for audit, compliance and risk management will further strengthen our ability to have a common integrated data-model for risk and compliance across the enterprise"

Gaurav Kapoor, CFO and General Manager at MetricStream says: "Through an integrated GRC initiative, financial institutions are taking a strategic view towards the changes in the regulatory environment, the critical role of internal audit and the evolving models and standards in risk management. We are looking forward to helping SunTrust in this important initiative."

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

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